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20130104
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Search Results 0 to 49 of about 53 (some duplicates have been removed)
RT
Jan 3, 2013 11:00pm EST
as this is when congress must deal with the debt ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar coin ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff less and les miserables it is a hollywood blockbuster meant to show off a list actor singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today while jeffrey tucker argues the latter will hear why business week's cover feature is babies crying on capitol hill but what about a study that finds babies born during recessions are more likely to be delinquent teens no word on what happens if they get elected to office we'll have more in loose change plus we'll talk bad minutes an inflationary dragons' let's get to today's capital account. nouriel roubini has an op ed in the financial times today saying the deal reached in washington on new year's day kept the u.s. from falling off the you know what however given the dysfunctional nat
RT
Jan 4, 2013 1:30am EST
now we're going to see how congress deals with the debt ceiling and the second what's called the sequester quest for a second. i got it wrong million times i'm sure now then my next question then is since the bush tax cuts are now permanent for most people is that a good thing because it's always better for that money to be in the hands of the private sector than going to government coffers or is it bad because the c.b.s. says that hey we're looking at four trillion dollars added to the budget deficit as a result what are located sort of from the specter of that is that right now what the economy needs is you know more hands in people's pockets more. or really admirable out there that i was of. and they're getting. you know over time if you need to control inflation or to slow the economy when we get there when the unemployment rates three percent then maybe taxes will change but until then i think this is a good thing and you know if you're thinking about stimulus at the end of the day i think americans have decided over the last three or four. years that they prefer tax cuts to
RT
Jan 4, 2013 5:30am EST
be faced with raising the debt ceiling and dealing with this the crest aeration spending cuts that the last congress put off in this new years deal what doesn't define space and time though are seemingly crazy ideas being discussed about padding the treasury's pockets with a trillion dollar platinum coin or two couple of fantastical with the reality of tax hikes that were passed so when a few nuggets from the fed minutes which are out today and we have liftoff now make no mistake the lawmakers on capitol hill may be the babies but we want to know if we're going to be the ones left crying ever harrison is here to tell us he's founder of credit write downs and i'm so happy on the show thanks for being here happy new year to you let's talk about what you do the fiscal cliff let which i like that's cute it's a miniature fiscal cliff you say it was an inverted there is a little bit of a mini crisis so what do you think is going to be impact of these tax hikes that were passed on the richest americans those making more than four hundred thousand dollars a year in income and also of cours
CNN
Jan 4, 2013 1:00am PST
valentine's debt ceilings, st. patrick's day sequester and then the budget deal after that. is there any reason to believe it's going to be different? >> the only good thing is that everybody's engaged. americans know more about their economic issues and budgetary issues than we have in a long time. people are taking it seriously, and i think congress seems to be getting the message, don't worry about the media, worry about your constituents who are actually mad. they want to get something done. the biggest problem is there is a lot of misinformation about what is going on. margaret is not happy that i've been saying this. the gop needs to learn the difference between a debt and debt ceiling. the debt ceiling was put in there so the treasury didn't have to keep issuing bonds. most other countries when they issue legislation that has money, it is spent. america has an extra stopgap. it was not meant to control the treasury, it was the opposite, it's meant to give treasury enough room to issue bonds so they didn't have to keep doing it. using the debt ceiling and the ability to pay our bil
Current
Jan 3, 2013 5:00pm PST
fight under raising the debt ceiling underway, republican congressman john boehner was re-elected to a second term as speaker. house clerk karen haas gave the tally. >> total number of votes cast is 426 of which the honorable john a. boehner of the state of ohio has received 220. the honorable nancy pelosi of the state of california has received 192. >> eliot: while pelosi got solid support with five democrats voting against her a dozen conservative republicans either abstained or lined up against boehner casting votes instead or candidates including majority leader eric cantor of virginia and tea party firebrand allen west. perhaps nobody told them west lost his election. when pelosi handed boehner a symbolic people's gavel boehner resisted the temptation to use it on the rebels in his own caucus. he returned to his favorite topic, reducing the national debt. >> at $16 trillion and rising, our national debt is draining free enterprise and weakening. in our hearts, we know it is wrong to pass this debt on to our kids and grandkids. now we have to be willing truly willing to make t
MSNBC
Jan 3, 2013 5:00pm PST
debt ceiling ends here tonight. this is "the ed show." let's get to work. >> in a couple of months the president will ask us to raise the nation's debt limit. >> the debt limit fight has begun, and so has the deception on the right. >> no need for drama. and we don't want any. >> tonight, my breakdown of the republican strategy to hijack the economy, and how democrats plan to fight it. >> we cannot be about business as usual, and that's what my vote was. >> the 113th congress is sworn in, and the circus is already in full swing. richard wolffe on today's bizarre vote for speaker of the house and how the 113th congress could crash the economy. >>> plus, the sandy relief disgrace continues. >> your two senators packed this with pork. the speaker made the right decision. >> i'll talk to a business owner who can't survive until house republicans act quickly. >>> and the president has called bill o'reilly's bluff and raised his taxes. >> if barack obama begins taxing me more than 50%, which is very possible, i don't know how much longer i'm going to do this. >> tonight we bid a fond farewel
CNN
Jan 3, 2013 5:00pm PST
all tired of it. and yet you say we've got valentine's debt ceilings, st. patrick's day something questions sister and then the buck jet deal after that. is there any reason to believe it's going to be different? >> the only good thing is that everybody's engaged. americans know more about their economic issues and budgetaryd. they want to get something done. the biggest problem is there is a lot of misinformation about what is going on. margaret is not happy that i've been saying this. the gop needs to learn the difference between a debt and debt ceiling. it was put in there so the treasury didn't have to keep issuing bonds. most other countries when they issue legislation that has mo y money, it is spent. it's meant to give treasury enough room to issue bonds so they didn't have to keep doing it. using the debt ceiling and the ability to pay our bills for things we've already spent is just outrageous. it was outrageous in august and the republicans continue to use this language that somehow it's to control spending. it's just incorrect. >> so back them up only in the fact that t
MSNBC
Jan 4, 2013 3:00pm PST
>> save your powder for the debt ceiling fight. work with me and others never to raise the debt ceiling again unless we address while we're in so much debt. >> i think there's going to be an all-new field of battle when the debt ceiling rolls around. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> leverage? this is a battle about real people. real americans. the gop's willing to take this couns country hostage. and for ransom, they want massive cuts to programs americans need to survive. threatening to take the economy is not lev rarj. it's stupidity. joining me now is chris hays, host of "up with chris hayes" here on msnbc. thank you both for being here this evening. >>> melissa, here we go again. the gop has a strategy to hold the economy hostage. does that make any political sense? >> it does for them. look, we heard it from ryan directly. which is we are without real political power, right? they've got a majority in the house, but exclusive there. there are three branchs of government, they are one house and three branchs and minority overa
CNN
Jan 4, 2013 1:00pm PST
debt ceiling republican lawmakers are making it clear they are ready to fight the president. let's bring in our national political correspondent on capitol hill with the latest. >> it seems old habits die hard. remember the moments yesterday as members of 113th congress were sworn in? never mind. after surviving a failed coo led by his own members john boehner wants to take the same fractured party into battle. in a closed door meeting of house republicans a source tells cnn boehner said he will demand budget cuts larger than any increase in the debt limit. boehner told the members the focus turns to spending that puts republicans and congress back on a collision course with the white house after the president insisted he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they have racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table one top republican says it may be necessary to partially shut down the government in order to secure
CNBC
Jan 4, 2013 5:00pm EST
are we having a serious conversation here? >> yeah, i think it's absurd. >> is the debt ceiling conversation absurd? this is my point. a lot of people feel that the whole ideas of not raising the debt ceiling and not paying obligations is extremely absurd. >> the intention of the debt seal ceiling is to control the amount of spending we do in the country. there's a whole strategic reason to have it. sorry, joe, we got to go. >> even if that's true, we may not -- >> the man in my head is yelling at me. >> thanks, joe. >> as the first week goes, so goes the year. >> the dow today up 43 points. the nasdaq and s&p at a five-year high. that does it for "closing bell." have a great weekend. "options action" starts right now. >> this is "options action." tonight money in the bank. finally soar in the new year. miss the rally, fear not. there's a trade in citigroup that could make you money if the stock goes up, down, or nowhere at all. plus heavy metals, gold and silver see their worst week in eight years. carter and kos say the pain is just starting, it will you where they see them heading next. a
CSPAN
Jan 4, 2013 7:00am EST
battle over fiscal issues over the so called fiscal cliff. we're running up against the debt ceiling. it could be even nastier fight we just saw. democrats say they won't deal on debt limit what they did in the summer of 2011. republicans say, no this is what when we have to cut our spending and get our finances in order and how they resolve this in the next two months will be a very interesting dynamic to watch. in terms of actual tone and the nature of the congress, you've got a lot of democrats will say, you've gotten rid some of the tea party fire brand republicans as they call them and hopefully that would make for more cooperative environment. there are a lot of new members of the congress are elected, they really ran on being cooperative, bipartisan, being problem solvers. it's so divided congress, we've got a democratic senate and we've got a republican house who really don't see eye on eye on much of anything. i'm not convinced at this point that very partisan nature of congress that we saw for the next two years will be too different now. host: let's look at the members and how
PBS
Jan 3, 2013 7:00pm EST
face the prospect of automatic spending cuts and the need to raise the nation's debt ceiling. >> brown: still to come on the "newshour" tonight: weighing the fiscal cliff deal; charges in the india gang rape case; the country's crumbling sewage system and an expanding american reach for al jazeera. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: for another member of congress, today marked an especially momentous return to work. republican senator mark kirk of illinois suffered a stroke 10 months ago, and had to learn how to walk again. today, he climbed the 45 steps of the capitol, with vice president biden and west virginia senator joe manchin on hand for support. secretary of state hillary clinton will return to work at the state department sometime next week. clinton was discharged yesterday from a new york hospital, where she had been treated for a blood clot in her head. a state department spokeswoman said clinton is now resting at her home in new york, but wants to get back to washington. >> some of the senior staff who spoke to her half an hour ag
CNN
Jan 3, 2013 10:00pm PST
gop needs to learn the difference between a debt and debt ceiling. it was put in there so the treasury didn't have to keep issuing bonds. most other countries when they issue legislation that has money, it is spent. america has an extra stopgap. it was not meant to control the treasury, it was the opposite, it's meant to give treasury enough room to issue bonds so they didn't veo ep doing it. using the debt ceiling and the ability to pay our bills for things we've already spent is just outrageous. it was outrageous in august and the republicans continue to use this language that somehow it's to control spending. it's just incorrect. >> so back them up only in the fact that there are plenty of republicans who say, good god, do not use this. this will kill us. >> the question is, if we went over the cliff or didn't fail to raise the debt ceiling, certainly there would be dire consequences. the question is, when else is the congress of the united states going to do anything proactively about spending? they have proven definitively over the last 70 years that they cannot do it. an
CNBC
Jan 3, 2013 7:00pm EST
. what is he going to do when it comes to the debt ceiling? i'm not sure he can count on his caucus. >> hang on, we have one who cast his vote against speaker boehner. joining us now, we welcome freshman oklahoma congressman jim bridenstein. why did you vote against mr. boehner and why did you vote for mr. cantor? >> well, good to be with you. well, this was a campaign promise that goes back to i guess august of 2011. the last time we voted to raise the debt ceiling and we created the supercommittee. then of course that ended up in sequestration. and as a navy pilot, you know, sequestration was not something that was palatable to me. cutting $500 billion from the department of defense over the next ten years is not palatable. so i made a campaign promise in the republican primary if i were to win i'd vote against speaker boehner. here's the thing, speaker boehner is the speaker. my objective at this point is to help him be as conservative as possible because we have got big challenges with the president. >> you know, jim woodstein, you have the spending sequester coming. i don't thi
FOX Business
Jan 4, 2013 6:00pm EST
problems coming up, the debt ceiling. and just this week people are getting paychecks for the first time that include that 2 percent increase in apparel tax. what the people make of this? >> a lot of people will be shocked because they remember the president saying, f you make less than $250,000 i guarantee you won't pay one more dime in taxes. well, they're paying lots of times and increased tax. a person making tricky thousand dollars is pro we going to be on the cross $1,600 additional money. if you're making 50,000, you don't have $1,600 of disposable income to give the government so they can waisted and borrow more money. it's going to it people hard. add to that the obamacare tax and then what states and local governments to doing. the economy will be in a world of hurt this year. gerri: and we can have a big tax resolution. the point that people really start seeing the impact of this, they may go with their feet and make calls to congress. who knows what's going to happen >> i do think that there is going to be a revolt, in large measure from people who voted for obama baena ted t
CNBC
Jan 4, 2013 3:00pm EST
debt ceiling, so i don't think it's clear sailing by any means. i think you're going to see volatility, but look at the economic data here. i mean, the non-farm payroll numbers here were in line, but they are encouraging on the private sector job growth, encouraging on our hourly earnings, and i think even the ism services was quite encouraging, so the u.s. is actually on better footing, and i think we can handle all the tax implications and the spending cuts a little bit better, about trend line 2% gdp growth, nothing great, but certainly not like the recessionary fears of where we were a year ago, and then globally you've got china recovering in some of the other markets like brazil and india doing a little bit better. >> so it's all progress. we're not there yet. >> progress, yes. >> joe greco, spoke to you guys on the floor, and there's a group highly skeptical of this rally. they are not happy at all with what came out of washington, and there are plenty of you guys who are very positive like ralph. where do you stand right now? >> you know, i tend to vacillate. i'll give a salute
CNBC
Jan 4, 2013 6:00am EST
us over into a recession. >> we're talking about the debt ceiling. >> what they also couldn't say is once we get to a bad june and the risk that washington, d.c. will destroy the economy drop, maybe we don't have to be so aggressive. but they can't admit that the roept they buy it this way is because they have -- but these minutes were before the fiscal cliff. >> i think the fed was so easy in part because -- >> oh, we should feel so good about what they came up with. no spending cuts and a just a big tax increase. gosh, they did such a great job. can you imagine the guy that will take a victory lap for not addressing our spending problems one iota? obama, how can you say you won and, gosh, be smiling and patting yourself on the back. >> because he defined the problem as not having enough tax revenue. but now we can see right after they do the cliff, we have s&p, moody's, the imf coming out and saying, this doesn't come close. the problem all along has been spending. t the republicans got the right issue and the wrong chart. >> the chart yesterday showed that the 65 billion this will
FOX Business
Jan 4, 2013 11:00am EST
krueger and his interview. they would like to see no drama surrounding the debt ceiling to the association. they feel the economy would be in better shape if we did not have any drama. 72% of americans agree any increase in the nation that limit must be accompanied by spending cuts and reforms of a greater amount. that is the principle i laid out, boehner said. repeated a number of times since. it sounds like a dog will have plenty of drama in his debate. >> oh, i think there will be plenty of drama. they need to propose some spending cuts and take some leadership role in this. whether we accompany the debt ceiling increase with debt reduction, which, by the way, is the typical way things happen. that is business as usual. if the president wants to avoid drama, he should get a head of this. connell: let me ask you about the debt ceiling. i think it is a pretty interesting topics. we talk about free markets and interest rates going up. if we really believed in free markets, when it we just not have a debt ceiling? you'll not be able to borrow more money, interest rates will shoo
KICU
Jan 4, 2013 4:00am PST
spending cuts for two months and left the debt-ceiling situation unresolved. "the big spending cuts didn't occur. we just don't know where those are at yet." and then there's the cost of obamacare. in some places, small companies are said to be preparing to downsize to get under the 50-employee cut-off. "companies just aren't taking chances. they're worried the economy will turn south. they're willing to stand pat rather than hire any time soon." sectors with the fewest layoffs include construction, retail, electronics, industrial goods, healthcare and government - the last two, healthcare and government, partly due to the ramping-up of obamacare. "they are hiring to create a cost-savings program for government to improve cost- efficiency. they hope to achieve a $400-million savings for an $80-million cost." for the year, the biggest reasons for layoffs were tied to company restructuring and closing of facilities. the deep political divide over whether to raise the debt ceiling is the next issue out of washington that could stall out business on wall street. republicans are vowing t
CNBC
Jan 4, 2013 1:00pm EST
is your expectation. how much concern do have you about a fight over the debt ceiling? >> i think the debt ceiling is a dangerous thing to fight over. it did not go well in 2011. i hope we get a better and smoother resolution this time than we did that time. >> do you think that -- do you want congress and washington right now to be cutting spending? is that something that concerns you right now? >> well, i'm a monetary policy guy, so it is not up to me to recommend on this. but i do think that if you could set -- you know, get rid of the longer medium term and longer run on certainty about the u.s. fiscal outlook, i think it is a tremendous help for the u.s. economy. you only have so many dollars to spend. decide how you want it raise the money. >> easy for to you say, have you a lot of dollars to spend. you get to print them. >> indeed we do. >> thanks for joining us today. >> thanks for having me. >> jim bullard st. louis fed president. tyler, back to you. >> we print them, we print the money. jonathan, good to see you. kelly, let's get your reaction. i guess the reaction on th
CBS
Jan 3, 2013 11:00pm EST
. the budget and then the debt ceiling. all grounds that play to the gop. >> when the president says that he will not negotiate over the debt ceiling that this is money that congress has already spent. pay your bills. is the gop really willing to shoot america's credit rating in the end? >> well is he willing to damage our credit rating to keep spending money that he doesn't have? >> it is a fight that has been going on since the presidency. and they plan to keep fighting. >> one democrat wrote in the newspaper today that when they voted to raise taxes, it rendered their anti-tax pledge. >>> new tonight at 11:00, a maryland woman vacationing in jamaica has died. she was 34-year-old vanessa brown riding in a car that slammed into a minibus. no one on the bus seriously hurt as the crash is under investigation. >>> the high school student is in critical condition tonight as they believe that the 18- year-old was pulled out of the school parking lot and ran smack into the path of the mac truck. four other students were also in the car as they are in the hospital. but their injuries are n
CBS
Jan 4, 2013 1:35am EST
measure to limit the nation's debt ceiling. by the way today they were reelected as speaker of the house, despite their own party that grew out of the fight. critics call them a megomaniac. now you might think that the anti-tax crew saider -- crusader would be lying low. but bruce leshan reports that they are keeping anything, but quiet. >> no, i'm disappointed that we were not able to continue all the 2001 to 2003 tax cuts. >> reporter: the days are filled with the media interviews and he is putting his best spin. on the first republican vote to raise taxes in 22 years. >> they were scheduled to go higher if congress had not acted. they were scheduled to go higher than everybody. >> reporter: they have all signed their pledge, never to raise tax rates on anyone as he insists the new year's day vote, they did not break that promise. >> on december 31 they would have broken that pledge. about that, i think we'll send the next two years focused on, you know, the obama white house in the fight on spending. >> so you think that you're going to win the next route? >> yeah on spending. >> repo
CNN
Jan 4, 2013 2:00am PST
ranks, which is what we've been seeing already. >> dissension in the ranks. we have a debt ceiling to tackle and continuing budget resolution. a whole lot of other stuff to do here. democrats have gained members. republicans still control the house. what's your sense of how both sides will handle the next round of negotiations? >> well, fresh faces but not really fresh fights. we expect republicans to continue to talk about the need to rein in government spending. probably a little more of the same. he spoke a little about this just after winning that vote yesterday. he talked about the debt ceiling. let's listen to that. >> the american dream is in peril so long at its name sake is weighed down by this anchor of debt. break its hold, and we begin to set our economy free. jobs will come home and confidence will come back. >> and so that's the republican argument here, spending cuts. the democrats, of course, are going to continue to argue for balance. president obama has said he's not going to have a debate with congress over raising the debt ceiling and making sure america can pay it
CSPAN
Jan 4, 2013 9:00am EST
: and facebook, it, president obama thought raising the debt ceiling was a bad idea -- facebook comment, president obama thought raising the debt ceiling was a bad idea when bush was president and said he would not vote for it, but later voted present. guest: with this a filibuster debate that is going on now in the senate between the republicans and democrats, if you go back and read the comments, they were reversed in 2005 when the democrats were filibustering george bush's traditional nominations. i think it is important to do these things on their merits. i think senator obama's vote was a mistake. if there is any truth in this town, it is that there is no dearth of blame to go around. host: how much time did you take to consider the caucus? guest: i did not make a decision during the campaign. i was asked a question almost exclusively by washington journalists. i was virtually never ask the question by people in maine. most people in maine did not care. they said, go down there and try to get something done. one guy yelled across the diner, i did not care who you caucus with. -- do
WHUT
Jan 4, 2013 6:00pm EST
looming showdown over the debt ceiling and possible spending cuts delayed under the fiscal cliff deal. john boehner addressed the debt thursday in his opening speech. >> as speaker, i pledge to listen and to do all i can to help all of you carry out your oath of office that we are all about to take. because in our hearts we know it is wrong to pass this debt onto our kids and grandkids, now we have to be willing, truly willing to make this problem right. >> house speaker john boehner faced a massive backlashes week after initially canceling a vote on relief for superstorm sandy. the house is expected to vote on the first round of aid today. gun-control advocates introduced legislation on the first day of the new congress to ban high- capacity ammunition magazines in recent -- used in recent massacres including the one at sandy hook last month. carolyn mccarthy of new york said the assault magazines help put the mass in that shooting and anything we can do to stop their proliferation will save lives in america. she lost her husband in a shooting on the long island rail road. she introd
RT
Jan 4, 2013 4:30pm EST
dollar magic coin solution to the debt ceiling a lot of guts plus after the fed minutes came out yesterday gold humbled some are arguing the gold these this in general is shaken some gold traders according to bloomberg expect prices to rebound from the longest weekly losing streak in eight years here to talk about what is going on in the precious metals markets is keith weiner he is president of the gold standard institute and c.e.o. of monetary metals and our discussion of the dairy cliff sent some viewers over the you tube comment or cliff will pull the conversation back from the ledge of your feedback and deliver a special message just for your audience you won't want to miss it let's get to today's capital account. when it comes to the macro environment central bank policy and economic risks and their actual impact on stocks or any asset class the results don't always make sense or follow logic don't we all wish in those situations we had appreciate knowledge of the future like this one more you sure knowledge of the future to play the stock or we could make truly. want to ma
CNBC
Jan 4, 2013 4:00pm EST
at things like the debt ceiling or credit rating of the united states, that's a non-issue. you're right. that's the thing we should have learned back in august 2011. people don't pay attention to the credit rating agencies anymore, especially when it comes to sovereignty debt. >> if they cut enough time it starts to impact what the government has to pay for their debt. >> look at every institutional investor -- >> if it goes low enough some treasuries couldn't buy those because the rating wasn't high enough for them. >> if you look at every single institutional investor, they define that a u.s. treasury security is a separate investment independent of its credit rating. >> because it implies a aaa credit rating that it doblt even have right now. >> interest rates that the united states pay is what the united states want to charge it. >> why rate? >> i agree. >> it's pointless. >> they shouldn't. >> can we look at this another way for a minute? let's look at this another way. let's talk about this country being able to pay its long-term bills. forget what a credit agent says about
FOX Business
Jan 4, 2013 1:00pm EST
fiscal cliff deal there is still plenty to worry about like the debt ceiling fight for example. wall street's fear index is sliding to the lowest level in three months. what is the vix trying to tell us? sandra smith is trying to tell us in today's trade. sandra? >> yeah, it is a bit confusing, melissa, right? you're talking about the fear in the marketplace about the looming debt crisis however the vix is showing no fear in the marketplace. it sold off 33% in the past three days. mark, you're expert in all things the volatility index, which the fear gauge has many people know it, why such a huge selloff when we are facing a looming debt crisis? >> one thing to remember about the vix, it is 30-day duration. so it is looking out about a month. that is well ahead kind of the next, major, major crisis which we're looking at more like a 60 than 80-day time frame. options prices in the near term are telling us you know the market is not going to do much for the next 30 days or so. that's why i think we've seen such a crushing of the vix. all the news is out that is going to happen, in jan
Current
Jan 4, 2013 3:00pm PST
will not negotiate over the debt ceiling. both house minority leading nancy pelosi, and senate majority leader harry reid today said the president should step in and exert his executive power to win the debt ceiling fight. and senator chuck schumer said that going forward the democrats would be tough in feeling with the obstructionist republicans. >> if they realize for sure that they are not going to have a negotiating partner, they will have to find another route to bring the changes they want. >> jennifer: no negotiations, no partnership, smart thinking but perhaps the most unlikely voice of reason today was former house speaker newt gingrich. he called on house republicans to stop playing politics with the economy. newt gingrich. >> they have got to find in the house a totally new strategy. the whole national financial system is going to come into washington by television and say oh, my god this will be a giant heart attack, you guys can't be responsible and they will cave. >> jennifer: newt gingrich the voice of reason. for more i'm joined from washington by representative
FOX Business
Jan 3, 2013 10:00pm EST
has to stop at some point. we're going to see the debt ceiling now present itself. are we going to see an ugly repetition was a debacle in 2011 that cost investors, the market cap number, but somewhere around a tri trillion dollars, we don't need any more of that. >> no, but at the end of the day there will be more fights, this is where we are as a nation. when you are 16.5 trillion in debt we'll have fights like this, i best compare it to a marriage that husband and wife go deep into debt, creditors call, and they start fighting as a couple. we see millions of couples in america break up because they are in too much debt, they fight about it the house and senate look a lot like america in the fighting we have about we understand we have too much debt, we understand we have too much spending but battle is where do you cutback. no single vote will fix this. lou: but if there is any more of the irresponsible nonsense over a debt ceiling, independence and democrats and many conservatives will be disenchanted with the republican party. i think you have to began kid and say, -- candid a
PBS
Jan 4, 2013 1:00am PST
we hit the debt ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter:
PBS
Jan 3, 2013 4:30pm PST
huge challenges: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. >> reporter: returning lawmakers didn't get much of a break after that bruising fiscal cliff battle. they're back in washington today, swearing in the new congress. demographically, it's the most diverse group ever sworn in. but politically, this congress is expected to deliver the same gridlock as the last one. >> the problem is that the congress is very vided, not only are the two houses divided, but each party is further away from the middle than has been in the past, and the public- the american public itself, is very divided. >> reporter: they'll start the year by tackling some big issues left over from last session. first in the house, a bill to help victims of superstorm sandy. house speaker john boehner nixed the vote in the last hours of 2012, drawing a firestorm of criticism. it comes up in the house in two parts- the first tomorrow, and the other mid-january. >> the next act will begi
CBS
Jan 3, 2013 7:00pm EST
huge challenges: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. >> reporter: returning lawmakers didn't get much of a break after that bruising fiscal cliff battle. they're back in washington today, swearing in the new congress. demographically, it's the most diverse group ever sworn in. but politically, this congress is expected to deliver the same gridlock as the last one. >> the problem is that the congress is very divided, not only are the two houses divided, but each party is further away from the middle than has been in the past, and the public- the american public itself, is very divided. >> reporter: they'll start the year by tackling some big issues left over from last session. first in the house, a bill to help victims of superstorm sandy. house speaker john boehner nixed the vote in the last hours of 2012, drawing a firestorm of criticism. it comes up in the house in two parts- the first tomorrow, and the other mid-january. >> the next act will be
FOX Business
Jan 4, 2013 4:00pm EST
under 2 million. not a strong recovery, but we will gain more strength. david: the debt ceiling battle be avoided thanks to a coin? one point with the choice in dollars. liz: and his name is clear. the man who ran to of warren buffett's top businesses. it no more sec investigation into whether he has done some trading and investing. he spoke to fox business. wait until you hear what he has to say. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right aft they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. o
CNN
Jan 4, 2013 11:00am PST
debt ceiling as leverage to get the spending cuts that they so desperately want and many say this country needs, what is that going to do for uncertainty and jobs in 2013? >> jumping off the fiscal cliff is nothing compared to blowing through the debt ceiling. here is why. the fiscal cliff was something created out of congress. it was sort of a manufactured crisis. now, the debt ceiling is for real. we come up against a borrowing limit and the government has to stop paying bills and it is a blunt instrument. i don't think either side wants to blow through the debt ceiling. i think we have to take a little bit of this blusterer with a grain of salt. what we want to take away from this whole period of time. when the government cuts spending it has a negative impact on growth. in the short run it hurts growth. if you look over in europe and austerity measures and governments pull back not so good for economic growth. when we say we want to fix the debt and deficit we have to be careful how soon and how quickly it occurs. >> kind of like after the holidays when you are feeling a littl
CBS
Jan 3, 2013 5:00pm PST
the debt ceiling and automatic spending cuts. former republican congressman jim nussle says this new crop has a tough job. >> what just happened with the debt and the deficit and the taxes, that doesn't go away. >> reporter: democrats still control the senate. and republicans the house with the same leaders returning. >> we're sent here not to be something but to do something. [ applause ] >> reporter: kildee says he's up for the job. >> while it's daunting, this is what i'm ready for. i'm here to work. >> reporter: his first major vote will be friday when the house takes up part of the superstorm sandy relief package. danielle nottingham, cbs news, washington. >>> and hillary clinton plans to return to work next week to finish out her term as secretary of state. she was released yesterday from a new york hospital where she was being treated for a blood clot. it was the latest in a string of medical problems that sidelined the nation's top diplomat for nearly a month. her doctors expect her to make a full recovery. >>> big changes are coming to san francisco's waterfront ahead of thi
FOX Business
Jan 3, 2013 8:00pm EST
punted on this one you will punt again. >> i believe because you have a debt ceiling issue, otherwise we'll have sequestration. >> you can move the goal post. >> well, i believe that $1.2 trillion is a good goal over the next 10 years. neil: $1 to1.2 trillion that isa rounding error. >> we take 10% off everything, there are programs i would like to eliminate and keep others. but you know, there were a couple things that happened we made. first of all, yes taxing the go up on those people who as a couple make $450,000, and capital gains and dividend will go up, i want to thank those people. they are some of the first to put manage on the table. and we should not demonize them as wealthy, it is a great thing you grew up in america or come to america, and strife to make a business or do something or have an idea to become successful, and you many money from it, that is greater, that is what makes america, those people who have, i want to thank them personally for the fact they are going to help us. right now in this time period. there are also, the 2% increase that go back t to payroll t
NBC
Jan 4, 2013 4:30am PST
not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two, begins today. also on their agenda overhauling the tax code. tracie potts, nbc news, washington. >>> futures are down slightly ahead of big economic numbers due out today. toyota and audi want to let your car doing the driving for you. for more on that and the rest of your news before the bell, we turn to brian shactman live at cnbc world headquarters. good morning. >> reporter: good morning. futures have improved a bit. basically flat ahead of the big economic report of the day, the december jobs number. analysts expect another month of slow but steady growth but not enough to call it a turning point for the economy. forecast call for 160,000
CBS
Jan 3, 2013 6:00pm PST
shutdown and battle over the debt ceiling and automatic spending cuts. former republican congressman jim nussle says this new crop has a tough job. >> what just happened with the debt and the deficit and the taxes, that doesn't go away. >> reporter: democrats still control the senate. and republicans the house with the same leaders returning. >> we're sent here not to be something but to do something. [ applause ] >> reporter: kildee says he's up for the job. >> while it's daunting, this is what i'm ready for. i'm here to work. >> reporter: his first major vote will be friday when the house takes up part of the superstorm sandy relief package. danielle nottingham, cbs news, washington. >>> did you change something? >> drivers with one thing in common. how the dmv says they make our streets more deadly. >> is tuition going up all the time? why some california students might be able to pay a flat rate for a college degree. ,,,,,,,,,,,,,, driving. the research released todayy th shows men >>> here is something that may startle you. one in 24 drivers admits to nodding off while driving.
CNN
Jan 4, 2013 4:00am PST
relief package today. >> but with the debt ceiling and deep spending cuts looming and a budget crisis coming up, will congress get more done than its predecessor? steve la tourette, chair of a republican advocacy group. he was a republican senator from ohio. you get the sense he's glad to be gone. >> i didn't think this is what retirement looked like, though. >> i have to start out by asking, yesterday a rather interesting day on the house floor. former colleagues re-elected speaker boehner as speaker of the house. there were a number of members, more than 10, who either didn't vote or voted against him. what do you make of the statement they were delivering? what do you think they were saying? >> it is not horribly unusual, it's the fourth time it's happened in my time here in washington. the first one with newt gingrich and then nancy pelosi lost some of her members and jim trafficant voted for dennis hastert. it's really not a good way to start your career. >> you talk about how you weren't expecting retirement to look like this, congressman. let me point out this fun tweet
PBS
Jan 4, 2013 6:30pm EST
unemployment. >> reporter: the worry now is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a res
CNN
Jan 4, 2013 6:00am PST
clock now. >> that's right, they are. you have the debt ceiling, a battle coming up, there are other economic matters that have to be dealt with over the next few months and it's important for the president to make this election, we expect the president will be making some announcements as early as next week. we reached out to the treasury department yesterday, a spokesperson telling me that treasury secretary geithner will be around until around the inauguration, and that they won't talk exactly about the timing of his departure until a successor is named but no doubt, this is a crucial cabinet position that the president is mulling over while here on vacation in addition to some others as well, such as the cia, and the defense department, victor. >> dan lothian traveling with the president, thank you for joining us for that. let's see how the markets are reacting to the jobs numbers. alison kosik at the new york stock exchange. alison our investors taking the addition of 155,000 jobs as good news for bad news? >> it's more like eh. investors are seeing it as it's not good, it's not
FOX Business
Jan 3, 2013 11:00pm EST
debt ceiling issue otherwise we'll have sequestration. >> these automatic cuts, you can move the goal posts. >> well, i believe that 1.2 trillion is a good goal to cut over the next ten years. the fact that we-- >> and that's a rounding error, that's a rounding error worth of medicare. >> 10% off of everything, i mean, there are actual programs where i would like to eliminate and i would like to try to keep other programs, so, that's important. but you know, there were a couple of things that happened in this deal that we made. first of all, he yes, taxes will go up on those people who as a couple make $450,000, some capital gains and dividend will go up some percentage, but i want to thank those people because they're some of the first to put something on the table and i don't think we should demonize them as the wealthy, it's a great thing if you grow up in america or come to america and strive to make a business or do something or have an idea to become successful and you happen to make money from it, it's even greater and that's what makes america. and so, those people who have, y
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